Noida Authority : Re-shedulement scheme meant to provide relief to developers that owe huge liabilities

The Noida Authority has decided to issue recovery certificates (RC) to builders who own huge amounts in land dues but are not showing any interests in its schemes like re-shedulement and flat-wise payment to clear their liabilities. 

The re-shedulement scheme meant to provide relief to developers that owe huge liabilities to the authority to pay the amount in instalments over two years will elapse in the next 15 days, but so far only two builders have come forward to avail the facility. 
Re-shedulement scheme
In case the defaulting builders do not clear the dues even after issuance of the RC their property can be attached and then auctioned to recover the amount. According to data there are 34 projects in the city that have been completed but owe over Rs 1,550 crs in dues. 

There are 34 projects which are undergoing construction and owe Rs 6,560 crore in dues. Noida’s additional CEO Prabhash Kumar said the aim of the drive is to ensure that the builders clear the dues. The officials informed that the authority would also hold special camps to facilitate home buyers and builders to speed up the registry process. 

Along with this official of the group housing department will co-ordinate with the Supreme Court-appointed court receiver in Amrapali projects and start the registry of flats. As many as 14 Amrapali and Unitech Projects which are subjudice in Supreme Court owe Rs 13,850 crore in dues.

The draft also keeps provision for additional ground coverage for car parking and building services. For buildings on plots measuring 3,000 sq m and up to 5,000 sq m, a 10% additional ground coverage may be allowed for car parking, ramps, staircase, lifts for upper level car parking and other services like AC plant and generator room, fire fighting and electrical equipment. For buildings on plots exceeding 5,000 sq m, a 15% additional ground coverage may be allowed for car parking and building services.

A new part has been inserted in the draft notification – keeping the provision for building rules for MSME units in industrial parks as approved by the state government for industrial use or as factory sheds or buildings. The minimum size of a plot, ground coverage, maximum height of the buildings, front, rear and side open space, FAR and parking space have been mentioned in the draft.


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